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Reverse charge related
old gold purchased from unregistered person. Is reverse charge applicable on those purchases?
Replies (7)
No.....................
No, reverse charge in respect of goods is applicable only on goods notified u/s 5(3)/9(3) of IGST/CGST act, 2017 & gold(including old gold) is not covered there.
No... RCM not applicable.
so where to show these purchases in GSTR3B?
In GSTR 3B.,
We will show the details in column no
3.1-(d) for liability &
4(A)-(3) for ITC...
We will show the details in column no
3.1-(d) for liability &
4(A)-(3) for ITC...
do we have to deposit tax on unregistered purchase?
NO. .... IT WILL BE TREATED AS EXEMPTED INWARD SUPPLY
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